Click Chart to enlargeI am resuming bitcoin coverage and will treat it as nothing special, since that's the best way to be objective when reading its charts. The one shown provided two good opportunities to get long 'mechanically' at 7481, so we'll assume that its target at 10,026 will prove just as useful as a minimum upside objective. We'll talk about buying a pullback to the red line (p=833...Read More
There can be big one way moves in gold and silver anytime. Short term traders and investors are on the sidelines. Gold short sellers are waiting for an opportunity. It remains to be seen if they fail this week. Cautious optimism in gold for now. Physical buyers of gold will be on the sidelines. In the next three weeks, there are various risk. (a) 18th June and 19th June is the FOMC. (b) 28th Jun...Read More
It was the Dow, S&P, and Nasdaq's highest close since early MayThe Dow cruised to a 353-point win today, for its highest close since May 3. Wall Street cheered reported progress in U.S.-China trade relations, after President Donald Trump tweeted about "an extended meeting" with Chinese President Xi Jinping at next week's G-20 summit. The S&P 500 and Nasdaq both soared as well, as trade-sensitive c...Read More
Goldman Sachs just upgraded several stocks in the solar energy sector The Dow is up triple digits today, on President Donald Trump's promising trade tweet. Solarstocks are getting a boost today too, after Goldman Sachs upgraded several sector names, includingSunPower Corporation (NASDAQ:SPWR), Sunrun Inc (NASDAQ:RUN), and Solaredge Technologies Inc (NASDAQ:SEDG). The analyst is "incrementally posi...Read More
President Donald Trump confirmed a G-20 meeting with Chinese leader Xi JinpingUpbeat U.S.-China trade headlines are creating a boon for the steel sector today, with the SPDR S&P Metals & Mining ETF (XME) up 3% at $27.28. The positive price action has sparked a rush of activity in XME's options pits, with calls crossing at 33 times what's typically seen at this point.By the numbers, 63,711 XME call...Read More
Gold prices climbed on Tuesday to settle at their highest in 14 months, as comments made by European Central Bank President Mario Draghi were seen as setting the stage for lower interest rates. Draghi's comments came ahead of the U.S. Federal Reserve's monetary policy statement due Wednesday. While Fawad Razaqzada, technical anlalyst at Forex.com, does not expect the central bank to announce a cu...Read More
Needham initiated coverage with a "buy" ratingThe shares of cloud communications concern Twilio Inc (NYSE:TWLO) are higher this afternoon, as stocks cheer encouraging tweets about U.S.-China trade relations. In addition, we're watching TWLO stock for two more reasons: today's upbeat analyst attention from Needham, and how seasonality favors the bulls in the short term.Diving right in, Needham star...Read More
There's heavy open interest at NXPI's 100 strikeChip stocks are having a strong day, and one name joining in on the rally is NXP Semiconductors NV (NASDAQ:NXPI). NXPI stock is trading up 4.7% at $93.94, as the shares move back toward the $100 level after breaching it about a month ago. They're also trading near two levels of key technical support in the 160- and 200-day moving averages. Based on d...Read More
Near-term options traders are pricing in modest volatility expectations Toymaker Hasbro, Inc. (NASDAQ:HAS) gapped higher after a positive earnings surprise in April, and after a subsequent pullback, has resumed its upward momentum. The equity has already added 12.9% so far in June, barreling past the $100 level to trade at year-to-date highs. In fact, HAS stock is now within striking distance of t...Read More
July-dated crude futures are up more than 4% todayThe U.S. stock market is surging at midday, after President Donald Trump tweeted about "an extended meeting" with Chinese President Xi Jinping at next week's G-20 summit. This only strengthens tailwinds created by stimulus chatter from European Central Bank (ECB) President Mario Draghi, and has the Dow Jones Industrial Average (DJI) set for its hig...Read More
Raymond James downgraded the stock to "market perform" from "outperform" Real estate concern Lennar Corporation (NYSE:LEN) is seeing some negative analyst attention today. Specifically, Raymond James just downgraded the stock to "market perform" from "outperform," citing concerns over theupcoming earnings report on June 25 next week, as well as the stock's "rich" valuation. The analyst maintained...Read More
The penny stock has almost doubled in value todayOptions traders are blasting Moneygram International Inc (NASDAQ:MGI) today, as the penny stock pops -- last seen up 99.5% at $2.82. Boosting the equity is news that company inked a two-year deal with blockchain firm Ripple. In addition to Ripple buying $30 million of MGI shares for $4.10 apiece, representing a roughly 183% premium to Monday's close...Read More
It's a big morning for social media stocksSocial media stocks are buzzing this morning on Facebook's (FB) cryptocurrency announcement. Sector peers Snap Inc (NYSE:SNAP) and Pinterest Inc (NYSE:PINS) are also in focus thanks to bullish analyst notes. So, let's dig into SNAP and PINS shares this morning.Starting with the Snapchat owner, Aegis Capital upgraded its rating to "buy" from "hold" and lift...Read More
Detour Gold (DRGDF) should produce outsized returns in a rising gold price environment.The company's high "gold beta" provides gold price leverage.At today's gold price and FX rates, Detour Gold is poised for 20%+ returns. Investment Thesis: A handful of GDX producers have returns that are exceptionally sensitive to the gold price. We prioritize one company, Detour Gold (OTCPK:DR...Read More
The brokerage firm thinks valuation and consensus estimates "look too low"Bank of America Corp (NYSE:BAC) stock is up 0.1% at $27.83, after BMO upgraded the financial stock to "outperform" from "market perform," saying valuations and consensus estimates "look too low." The brokerage firm maintained its $37 price target, which represents a 32.4% premium to last night's close. Heading into today, an...Read More
The company's drug to reverse blood thinner was well-toleratedBiotechnology concern PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS)unveiled impressive preliminary data from a mid-stage study of its PB2452 therapy, used to reverse the effects of antiplatelet agentsin patients over 50. The drug was found to be generally well-tolerated with only minor adverse events. As such, PHAS shares are trading up 10...Read More
Kroger will report earnings before the open on Thursday, June 20Grocery giant Kroger Co (NYSE:KR) is set for its first-quarter earnings report before the open on Thursday, June 20. We'll take a look at the stock's earnings history below, as well as how analysts and options traders have been lining up.At last check, Kroger stock was up 0.1% to trade at $24.39, shaking off a price-target cut to $24...Read More
ECB President Mario Draghi said the bank could cut rates again and President Trump isn't happyFutures on the Dow Jones Industrial Average (DJI) are trading above fair value, after stocks notched a slim victory to start the week. The focus remains on the latest central bank buzz, as the Federal Open Market Committee (FOMC) begins its two-day policy deciding meeting today. Meanwhile, European Centra...Read More
The RSI for NUGT topped out north of 74 on an intraday basis last FridayThe Daily Gold Miners Index Bull 3X Shares (NYSEARCA:NUGT) is one of those leveraged exchange-traded funds (ETFs) that you've no doubt been warned about before. Although NUGT targets daily investment results equivalent to 300% the performance of the NYSE Arca Gold Miners Index (GDM), those leveraged returns tend to warp in une...Read More
Dollar index rally will give gold a much-needed consolidation period.China's industrial slowdown should bolster safe-haven gold demand.Despite gold's headwind, mining shares still enjoy a powerful tailwind.Gold is facing renewed headwinds in the form of a strengthening U.S. dollar and a comeback in equity prices. Yet despite these obstacles, an abundance of evidence shows that investors ar...Read More